It was close to midnight and the crowd wasn't showing any signs of letting up. The DJ was still spinning fast paced music and finger food and non-alcoholic energy drinks kept coming. And the hosts weren't complaining that the party was stretching into the wee hours. The "party", which kicked off at 10pm and lasted until 2 am, was hosted by denim marketer Spykar Lifestyle Pvt. Ltd and had already generated three times the revenue that a similar sale by the company during normal day-time hours at the Bandra store in Mumbai. The midnight-sale by Spykar has become one of the many retail innovations that stores are using to get more shoppers into their stores. In Midnight retailing, the retailer invites loyal customers, celebrities and media and much like a "happy hour" in a bar, retailers offer steep discounts during such "off" hours or on certain days when foot traffic is normally slow. This recent practice is result of weak sales in a slowing economy or as sales gimmicks to attract media attention-such.
Most midnight openings occur at the mall-based specialty stores and outlet malls that felt overshadowed by all the action and attention lavished on the discount chains and department stores for opening at dawn. The “midnight madness” trend is part of an effort by smaller retailers to steal consumers from their bigger counterparts in an increasingly crowded marketplace comprising traditional bricks-and-clicks stores, retail web sites, eBay and other alternative outlets. By keeping malls open all night, their hope is to lure shoppers away from the competition. There will be giveaways and sales, playing off the same kind of door-buster frenzies offered elsewhere. There also is an expectation that the novelty of shopping in the middle of the night will be an attraction. One goal of Midnight Madness is to put some of the fun back into an experience that, in some cases, has turned dangerous as there has been trampling and shoving at door-buster sales, and some shoppers were injured on their way into Wal-Mart stores last year.
“ Shoppers will come if you give them a fun, festive atmosphere.”
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A new concept of Night markets or the Night Bazaar is coming to existence. Night Bazaars are street markets beginning late in the evening and going on past midnight. They are usually dedicated to leisurely shopping through an assortment of delicacies in a casual atmosphere. Night bazaars have specialised stalls sporting clothes, food or wine. Some of the best-known night markets in the world are in Taiwan, Hong Kong, Macau, Singapore and Thailand. Even in India there are few Night Bazaars like famous Sarafa Bazar in Indore known for its delicious delicacies, Saturday Night Bazaar (SNB)in Goa.
A courtyard restaurant at the World Trade Centre in Mumbai recently hosted a Night Bazaar to celebrate its first anniversary.
Shoppers feels the concept is beneficial to housewives - who can finish their chores and go shopping with their spouse.
And the shoppers think that a night bazaar should offer something that is out-of-the-box and not run-of-the-mill stuff.
This is something that has tremendous scope in India esp metro cities. With the maximum youth population and growing service class, the retail companies can target them by providing the great shopping experience.
IKEA Norway !
Ikea has gone one step further and initiated in opening the Ikea Hostel, where customers can stay overnight for free, if they haven't finished their shopping. 30 participants will get free dinner, breakfast and the joy of sleeping on dormitory-style beds. Nearly 20% of the 4.7 million people who live in Norway visit IKEA each year. That’s more than their biggest tourist attraction and equates to 1 in 5 people! That popularity has led the five IKEAs in Norway to branch out into a new endeavor - overnight accomodations. IKEA is offering perks to hostel guests including nighttime tours of the IKEA warehouses along with IKEA Hostel logo robes and slippers to wear during their stays.
Even some of the Tesco stores open 24 hours a day (except on Sundays). Insomniacs, people coming off late flights and boats, are handing over their cash to the UK’s largest retailer.
The new Apple Store on New York’s Fifth Avenue also opens 24/365. They even offer a Midnight Mix with a DJ on some Friday nights from midnight to 2am.
If we observe the life style of metros specially mumbai ,usually day starts at 11 am and ends around 1 am...
this concept will be more successful in Mumbai or those cities who are trying to adopt Mumbai culture.
Also I think this concept will give fruitfull results on those places where average population is very young and their disposable income is high.....
Nice concept to study and watch
For Market penetration, a company can either increase the number of stores or can play with the hours of operation. Since Opening new store involves high infrastructural investment, thus Midnight retailing is a very good option for various brands to go for market penetration under Growth Strategies. This can be done by capture untapped market(people who are busy through out the day).
But this also brings conflict with full time employees regarding hours of operation. Part employees can be the one option but they may offer lesser commitment. Thus here comes the role of HR in retailing.
Very useful and informative post!!!!
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